A PYMNTS Company

Australia: Tatts set to scrap mega-merger vote for now

By  |  September 26, 2017

A shareholder vote on the AU$11 billion (US$8.7 billion) merger of Australia’s two biggest gambling companies, Tabcorp and Tatts, will be unable to proceed according to plan.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Tatts shareholders were due to vote on the proposed tie-up on October 18, but that timeframe appeared to be shot down on Tuesday, September 26, when the national competition tribunal ordered further hearings starting on October 24.

    The tribunal is reconsidering the merger after the competition watchdog, the Australian Competition and Consumer Commission, won a Federal Court appeal against an initial approval.

    Full Content: The Advertiser

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.